Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

When paths part…

ORHAN MİROĞLU The Hizmet movement and the Justice and Development Party (AK Party) have arrived at a critical junction in the road. The main problems that have emerged on the route towards this critical junction are of course not limited to the debates and disagreements surrounding the question of the closure of the prep schools. […]

Hate towards Hizmet Movement as a political strategy

The Hizmet movement has broad support from every walk of life in the country. A very popular civic movement, many groups are sympathetic to the cause of the Hizmet. So, the image of the Hizmet had to be turned upside down.

İpek Holding chairman denies reports about alleged mansion for Gülen

İpek said the dailies had reported baseless news using imaginary scenarios as though they were facts. İpek said the mansion had recently been renovated as his mother will move in

A Case for Why Gulen Would Never Support a Coup

In his interview with the prominent French newspaper Le Monde, Gulen has called the July 15 events in Turkey a “terror coup.” As a man who has always condemned terrorism and violence in any shape or form, to which his life’s work is evidence, it is hard to believe that Gulen could have had the slightest connection to the coup.

Bank Asya faithful boost deposits after Turkey seizes lender

Bank Asya has become a battleground in the feud between Turkish President Recep Tayyip Erdogan and self-exiled, U.S.-based cleric Fethullah Gulen, a preacher whom Erdogan blames for instigating a coup attempt against him and whose followers founded the lender. Supporters of each have sought, by turn, to strengthen and weaken the bank.

Council of Europe: Turkey must separate coup plotters from Gülen employees

“We are stressing to the Turks that they have to present clear evidence, be able to separate those who were clearly behind the coup and those who have been in some way or another connected to or working for this so-called Gülen network,” Jagland, Secretary General of the Council of Europe, told Reuters.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkey-Japan Media Forum kicks off in İstanbul

Turkish PM admits did not know identity of putschists when he blamed Gülen movement

Water Well Constructed in Uganda in Memory of Slain Journalist

Thais demand more Turkish Schools during their visit in Turkey

Bittersweet joy for teachers amid prep schools conflict in Turkey

Erdogan Budgets $150m To Displace Hizmet Schools In Africa

Human rights associations up in arms over deputy’s remarks on torture allegations

Copyright 2026 Hizmet News